Fiscal Aptitude

 

Being disciplined in holding the purse bag brings prosperity to a nation and Pakatan Rakyat has demonstrably excelled in its states. PR’s fiscal care has helped to fund many of its people-centric programs. We showcase some of PR’s notable achievements:

 

 

Budgetary Surplus

  • Penang recorded four straight years of budgetary surplus with RM 88 million in 2008, the highest in its history.
  • Penang Island Munical Council (MPPP) raked in RM 49 million budget surplus in 2009, its highest ever.
  • Even after investing RM 150 million annually on the people with its many welfare programs, Selangor still achieved three years of budgetary surplus since 2008.
  • In comparison BN recorded 6 consecutive years (2000-2005) of budget deficits under its last Menteri Besar, Mohd Khir Toyo
  • 11 out of 12 Selangor’s local councils also achieved budget surplus in 2010, unprecedented for Selangor.

Cash Holdings

  • Penang’s Seberang Perai Municipal Council (MPSP) saw its cash savings shrunk from RM 372 million (1999) to RM 18 million (2007)
  • Under PR, it has nursed its cash holdings back to health, increased to more than RM 100 million in 2012.
  • In 2011 the total cash reserves for all LCs reached RM 142 million, a record achievement.

Revenue Increase

  • Open tender sale of timber concessions, land and sand raked in millions more in revenue for PR states
  • Kedah received RM 70 million more in timber royalties in 2011 than 2007’s RM 9 million. In 10 months, Perak registered 150 percent increase on top of BN’s RM16 million in 2007.
  • Penang’s open tender land sale in Bayan Mutiara netted RM 1.07 billion, at RM 240 psf in 2011. The federal government sold 495 acres of prime land in Sungai Besi for RM 74 psf to an alleged BN crony company.
  • Selangor’s sand royalty revenue in 2011 is almost four times of BN’s 2007 collection.

Managing Debt

  • Selangor managed to recover more than 4100 acres of land and cash for the RM 392 million debt owed by Talam Corporation in 2012.
  • By restructuring Talam’s other debts owed to it, Selangor have turned the land received as compensation to property development valued at RM 12 billion.
  • In September 2011, Penang reduced its state debt from RM 630 million in 2008 to RM 30 million as a result of the water infrastructure project debts offset to the federal government

Attracting Investments

  • In spite of the BN federal government’s push to promote its governed states with generous tax incentives in Johor (Iskandar development area) and Sarawak (SCORE), PR states have done just as well.
  • From 2008 to October 2012, Selangor and Penang have received the 1st and 3rd highest accumulated amount of investments in the country
  • Penang took in RM 12.2 billion of investments in 2010, its highest in history
  • From 2008 to 2011, PR states’ manufacturing investments received accounted for 44% of the total investments by all states in the country.
This article was written by on Thursday, February 28, 2013 at 5:38 pm. You can follow any responses to this entry through the RSS feed. You can leave a response, or trackback from your own site.

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